The bill amends Minnesota Statutes 2024, section 272.01, subdivision 2, to introduce a new exemption for certain leased land. Specifically, it allows property owned by a nonprofit conservation organization to be leased, loaned, or otherwise made available to private individuals, corporations, or associations for grazing activities that align with the conservation objectives of the organization. This addition is marked as insertion (7) in the bill. The existing provisions regarding taxation on property used for profit by private entities remain intact, with specific exceptions outlined for various types of properties, including those related to public parks and airports.

Additionally, the bill clarifies that taxes imposed under this subdivision will be assessed similarly to personal property taxes, but will not create a lien against the property. It also specifies that the new provisions will take effect for property taxes payable in 2026. The deletion of previous clauses related to cooperative farming agreements and other specific exemptions has been made to streamline the language and focus on the new exemption for nonprofit conservation organizations.

Statutes affected:
Introduction: 272.01